How the latest data released by the government will help the industry
The latest release of the government construction and infrastructure pipeline provides a helpful tool for the industry to plan appropriately for the level and nature of future contracts.
The size of the pipeline itself, which contains over 500 projects and covers the period beyond 2020, allows for an unprecedented degree of clarity around the prospects of the construction industry in the future.
The projects within the pipeline can also be tracked in real time with status updates including start dates and value, which allows the industry
to stay informed of how these opportunities develop.
A tool such as this will help key decision makers in both the public and private sector to make informed decisions around the geographic and sector opportunities available to them.
The pipeline will also aid the production of industry forecasts by providing a greater level of detail on project values in particular.
This will improve foresight, meaning that the estimates of the amount, location and nature of future growth can be more accurate in the future.
Michael Dall is lead economist at Barbour ABI